Issue - meetings

That:

1)         the current position of the revenue budget to date be noted;

2)        the forecast outturn and the projected level of balances in respect of the General Fund be noted.

The Executive considered a report setting out the current position of the revenue budget.

The Executive Member for Finance and Housing introduced the report and highlighted the working budgets of each Directorate, their spend to date and forecast outturns.  In addition Councillor Kaiser drew Members’ attention to the fact that even though Children’s Services were showing an overspend of £2.93m the total overspend was expected to be in the region of £973k.

With regard to the Housing Revenue Account (HRA) this was currently forecasting a nil variance and the HRA reserve was showing an expected balance of £1.82m as at 31 March. 

In addition Councillor Kaiser highlighted the shortfall in the Dedicated Schools’ Grant which was due to carry forward a deficit of £3.33m.

RESOLVED that:

1)         the current position of the revenue budget to date be noted;

2)        the forecast outturn and the projected level of balances in respect of the General Fund be noted.